If you were to look up guarantee in the Collins online dictionary they have a mass of definitions. Our personal favourite is number two on the list: ‘Something that is a guarantee of something else makes it certain that it will happen or that it is true.
Many of us have expectations and belief in guarantees but, we don’t truly believe that a guarantee will hold up. Which is why a guarantee for a business, no matter what the size or customer offering, is essential in this age of competitive marketplaces.
If we were to relate our definition above to business, then surely it would mean that if a company says they will provide a service, or a timescale, or a price, this will be done.
But, what if we looked further and thought about those business guarantees. Maybe they are not so much about what is said in the guarantee but what isn’t in the guarantee or what’s not pointed out at the time of buying the product or service.
Does the guarantee fall down because it was verbal, have you ever been quoted something like “ ahh but it isn’t in writing is it”, or maybe the promise made verbally has been forgotten, lost in conversation or translation from promise to delivery.
So, as a business owner do we care about guarantees for our business - OH YES WE DO..OR ..OH YES WE SHOULD. Guarantees are a powerful tool in both marketing and also building our business, a well thought out, well-executed guarantee, which a business can stand by is like gold dust in the world brand loyalty and reputation.
Guarantees should be customer-centric, they should reflect what’s important to the customer and not what a business can get away with to keep people happy. If your business is running efficiently and effectively and striving to be the very best it can, then a guarantee should be easy to support your clients.